What Is the Main Difference Between Articles 2 and 2A

question 108

Multiple Choice

What is the main difference between Articles 2 and 2A and Revised Articles 2 and 2A?

• A) There are no significant differences between Article 2 and 2A and Revised Articles 2 and 2A.
• B) The existing Articles did not have provisions related to leases, the Revised Articles contain new provisions so that the UCC now covers leases.
• C) The existing Articles only apply to merchants; the Revised Articles now include non-merchants under the UCC.
• D) The Revised Articles include provisions to protect non-merchants against merchants, these provision are not in Articles 2 and 2A.
• E) The Revised Articles include provision related to electronic contracting for the sale and lease of goods; these provisions are not in Articles 2 and 2A.

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Definitions:

Consumption

Consumption involves the use of goods and services by households, covering everyday spending on things like food, clothing, and entertainment.

Tariffs

Taxes imposed by a government on imported goods to increase their price and protect domestic industries.

Import Quotas

A government-imposed limit on the quantity of a particular good that can be imported into a country during a specified period of time.

Protected Goods

Goods that are safeguarded from competition by trade barriers such as tariffs or quotas.